Look Mamma, it does pay to cheat and steal Bitcoin!
In 2014, Mt. Gox, once the largest bitcoin exchange in the world, filed for bankruptcy. At the time, Japanese creditors requested Mt. Gox to return the equivalent amount of their funds stored in bitcoin in Japanese yen. Since then, the price of bitcoin has risen by 70-fold, and former Mt. Gox CEO Mark Karpeles is expected to take the majority of the profit from the bankruptcy proceedings.
In July, Karpeles attended a court hearing and pleaded not guilty to charges on money laundering and embezzlement, for his involvement in the loss of approximately one million bitcoins, which were worth $400 million during the period wherein the Mt. Gox bankruptcy was filed.
Over the past three years, from 2014 to 2017, the price of bitcoin has increased exponentially, from around $400 to $7,000, by 17-fold. During the investigation into the Mt. Gox bankruptcy from 2014 to 2016, 200,000 bitcoins were recovered and with that, Karpeles was requested to proceed accrediting creditors of Mt. Gox with the recovered bitcoins.